Royal Mail warns of FY loss if four days of strikes go ahead
Reuters
Published Aug 10, 2022 07:32
Updated Aug 10, 2022 07:47
(Reuters) -Royal Mail warned on Wednesday that it could post a loss in the UK for the full-year 2022-23, if four days of strike called by the Communications Workers Union (CWU) in August and September went ahead.
The CWU, which represents more than a 100,000 Royal Mail (LON:RMG) postal workers, said British postal workers will hold the strike in protest over pay on Aug. 26 and 31 as well as Sept. 8 and 9.
Tuesday's strike announcement is the latest industrial action in the country as workers demand wage rises to cope with soaring inflation at a time when Britain faces its worst cost-of-living crisis in decades.
The centuries-old Royal Mail, which saw a parcel boom during the pandemic, now also faces challenges to its business due to a slowdown in the UK economy, ebbing consumer demand, and sky-high inflation.
The company said it has contingency plans in place and will be working hard to minimise disruption and restore normal service as soon as possible.
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Written By: Reuters
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